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Income Statement Consulting fees earned Salaries expense Utilities expense Transportation expense Insurance expense Rent expense Net Operating Income Owner's equity Statement Jessa, capital Jessa, withdrawals Net operating Income Owners Equity Balance Sheet As on 28-2-2011 Current Asset: Cash Accounts receivable Office supplies Prepaid rent Prepaid insurance Total Current Asset Fixed Asset: Furniture Equipment Total Fixed Asset Total Asset Short Term liabilities Account payable Notes payable (due in 3 months) Interest payable Long term liabilities: Long-term notes payable Total Liability + Owner equity On Feb. 1, 2020, Eissa Amiri started ACE Insulating Company. Following were the account balances of ACE Insulating Company on Feb. 28, 2020. (All amounts are in AED) Cash Accounts receivable Insulating supplies Prepaid rent Automobile Accounts payable Notes payable (due in 3 months) Jessa, capital Jessa, withdrawals Insulating revenues Salaries expense Utilities expense Transportation expense Rent expense 12,300 38,000 18,200 2,500 80,000 2,000 7,000 130,800 5,000 27,000 5,000 2,000 800 3,000 Required: b) Prepare an Income Statement Prepare the statement of changes in Owner's equity Prepare a Balance sheet